Need Based Financial Aid

Scholarships and Grants

All students accepted for admission to MICA who have completed the required financial aid applications by the deadline are considered for need-based grants and scholarships. Funded by the College, the federal government, and state agencies, these grants and scholarships do not have to be repaid.

  1. Federal Pell Grants up to $4,310 and Federal Supplemental Educational Opportunity Grants of $1,000 are reserved for the most needy students.
  2. Scholarships and grants awarded to Maryland residents through the Maryland State Office of Student Financial Assistance range up to $14,800. Go to www.mhec.state.md.us for more information.
  3. The MICA Grant is awarded on a need-only basis and the MICA Scholarship is awarded based on a combination of need and merit.

Loans and Work

All students accepted for admission to MICA who have completed the required financial aid applications by the deadlines are considered for need-based loans and work.

  1. Federal Perkins Loans carry a 5% simple interest rate and may be awarded up to $3,000 annually. Perkins Loans are reserved for needy students.
  2. Federal Stafford Loans carry a fixed interest rate and are made available through MICA's preferred lenders. Maximum amounts available are: freshmen-$3,500; sophomores-$4,500; juniors and seniors-$5,500.
  3. Federal College Work Study employment, on and off campus, is made available to students with demonstrated need.